Daily Crypto Market Update - 15.02.2023
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Crypto markets continued to recover yesterday as markets gained further clarity over the short term macroeconomic picture after the US CPI release. Although month on month inflation showed a substantial increase, crypto markets remained relatively risk-on while global equities were flat.
Bitcoin traded from lows of $21,550 yesterday to highs of $22,350 post data release. The cryptocurrency closed the day at $22,200 and was trading flat at the time of publication.
Although markets recovered yesterday, the near term bias remains bearish and we could see sellers emerging for Bitcoin at $22,500. We could see some bids in the market at $21,500.
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